Assurant (NYSE:AIZ) Price Target Raised to $233.00 at Bank of America

Assurant (NYSE:AIZ) had its target price boosted by Bank of America from $228.00 to $233.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

AIZ has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised their target price on shares of Assurant from $186.00 to $194.00 and gave the company a market perform rating in a research note on Wednesday, August 14th. UBS Group raised their price objective on Assurant from $217.00 to $224.00 and gave the company a buy rating in a research report on Monday, September 23rd. StockNews.com raised Assurant from a hold rating to a buy rating in a report on Wednesday. Finally, Piper Sandler raised their price target on Assurant from $200.00 to $217.00 and gave the company a neutral rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Assurant currently has a consensus rating of Moderate Buy and a consensus target price of $214.60.

Assurant Trading Up 1.7 %

Shares of NYSE:AIZ traded up $3.27 during midday trading on Thursday, reaching $193.60. The company’s stock had a trading volume of 40,178 shares, compared to its average volume of 349,031. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.61 and a beta of 0.57. The firm has a 50 day moving average price of $190.09 and a two-hundred day moving average price of $178.87. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40. Assurant has a fifty-two week low of $144.61 and a fifty-two week high of $201.55.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.50. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the business posted $3.89 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Assurant will post 16.54 earnings per share for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, September 3rd. Assurant’s dividend payout ratio is 19.19%.

Insider Transactions at Assurant

In other news, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at $717,329.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the transaction, the executive vice president now owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now directly owns 3,152 shares in the company, valued at approximately $593,962.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Assurant

A number of institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in shares of Assurant by 32.5% during the second quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after acquiring an additional 255,471 shares during the last quarter. AMF Tjanstepension AB bought a new position in shares of Assurant during the 1st quarter valued at about $39,013,000. Gillson Capital LP purchased a new position in shares of Assurant during the fourth quarter valued at about $27,013,000. TD Asset Management Inc increased its holdings in shares of Assurant by 20.4% in the second quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock worth $94,118,000 after purchasing an additional 96,021 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Assurant by 151.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 143,425 shares of the financial services provider’s stock worth $26,998,000 after buying an additional 86,448 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Company Profile

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.